As the print world slowly continues to expire new opportunities in the digital world arise. One sector of publishing that has been hit particularly hard is the newspaper publishing industry. New technologies capable of reporting news, e.g., radio and television, have presented competition that newspaper companies have been able to overcome in the past. However, the internet has presented a whole new challenge for newspaper companies to tackle. The Congressional Research Service reports that 80% of newspaper’s revenue comes from advertising revenues alone. Now, corporate advertisers are relying more heavily on flexible and more dynamic internet advertising mediums. It is no surprise that as revenues fell sharply for newspapers companies, so did employment. Between 2001 and 2009 newspaper staffing fell by 25%. “The Economist” claims that “Of all the “old” media, newspapers have the most to lose from the internet.”
Newspapers have attempted to adapt to changing markets by creating online editions that supplement their print editions. Large newspapers are not the only players in the online news industry. With today’s technology a small company or even single reporter can fund their start-up with a modest investment. Philip Meyer asserts in his new book, “The Vanishing Newspaper” that 2043 will see the moment print newspaper altogether dies in The United States. It would appear that the deck is stacked against print newspapers despite their best efforts to stay afloat.